FDIC has only about half the cash needed to cover roughly $264B in deposits at failed banks: Report
Signature Bank has $88.6 billion of deposits and Silicon Valley Bank has $175.4 billion of deposits. According to the FDIC’s most recent quarterly report, the agency has a balance of $128 billion.
Why We Should Let Bad Banks Fail
Bad banks need consequences. Let them fail.
SVB collapse: Bank fallout shines spotlight on $620 billion hole in banking sector
SVB isn't alone, as banks across the United States were sitting on $620 billion in unrealized potential losses at the end of last year, per the Federal Deposit Insurance Corporation.
If SVB is insolvent, so is everyone else
Fifteen years later … after countless investigations, hearings, “stress test” rules, and new banking regulations to prevent another financial meltdown, we have just witnessed two large banks collapse in the United States of America– Signature Bank and Silicon Valley Bank.
Federal plan to save SVB depositors faces legal, logistical hurdles
"If you want to change the law and go above $250,000 as a guarantee, well, then you got to go to Congress and change that law."
As losses mounted, Silicon Valley Bank doubled down on woke investments and left-wing rhetoric
Following the collapse of two major banks that were focused on social justice investments, American taxpayers may now foot the bill for bad financial decisions that could have been avoided.
‘Cringe’ Ads Go Viral From Signature Bank, Which Refused Trump’s Business in 2021
“Who would have trusted their money to these guys after watching this video? This is a circus not a bank,” Roch-Decter captioned one last video, a parody of a Katy Perry song.
Silicon Valley Bank Scrubs Website, Deletes Twitter and YouTube Videos
The news comes following revelations that the bank acted as a bridge to China and Chinese tech engineers.
Investor who called Lehman collapse predicts the next big US bank failure
“The perfect storm in many ways."
Barney Frank under fire over role on board of doomed Signature Bank
In an interview with Bloomberg late Sunday, Frank partly blamed cryptocurrencies, which didn't exist when he and fellow lawmakers in Washington were grappling with the collapse of Lehman Brothers in 2008.
SVB had NO head of 'risk assessment' for nine months before it collapsed
Meanwhile the woke boss for Europe, Middle East, and Africa was busy organizing a month-long Pride campaign and a "Lesbian Visibility Day."
KPMG Gave SVB, Signature Bank clean bill of health weeks before collapse
Accounting firm faces scrutiny for audits of failed banks.
Chart: Remittances Due to the US Treasury
The bigger the negative number, the bigger the accumulated loss.
CPI Preview: 'Fed Is Between A Rock And A Hard Place Right Now'
"Unless we get a shockingly hot number market will remain more focused on unfolding banks drama while a soft print will be disregarded ..."
Silicon Valley Bank Crisis: The Liquidity Crunch We Predicted Has Now Begun
There are many fine articles out there covering the details of the SVB situation, but what I want to talk about more is the root of it all.
Goldman Trader: Despite 'Overwhelming Gov't Force,' Market Will 'Maintain Pressure On Smaller' Banks
The central problem of deposit loss will likely continue.